African leaders gathered in Nairobi for the Africa Forward summit are calling for a major rethink of how global financial institutions price risk on the continent, arguing that outdated perceptions are making borrowing unnecessarily expensive and limiting investment flows. The two-day summit, co-hosted by Kenyan President William Ruto and French President Emmanuel Macron, has brought together delegations from more than 30 African countries alongside global financial institutions and investors.
A central focus of the discussions is the push to reduce Africa’s so-called “risk premium,” which leaders say unfairly inflates financing costs despite improving economic fundamentals in many countries. Kenya’s Foreign Minister Musalia Mudavadi said African economies continue to be penalised by perceptions that portray the continent as riskier than peer markets elsewhere, according to Reuters.
French President Emmanuel Macron used the summit to announce €23 billion ($27 billion) in planned investments involving French and African companies, targeting sectors including clean energy, artificial intelligence, agriculture, maritime infrastructure, and digital technology. Officials said the investment drive aims to support job creation, industrialisation, and stronger economic cooperation between Africa and France.
The summit also highlighted broader African efforts to reform the global financial system, including proposals for an African credit ratings agency and new financial mechanisms designed to unlock domestic capital and reduce reliance on costly external borrowing. CNBC Africa says the discussions reflect growing confidence among African leaders seeking more balanced partnerships and greater control over how the continent is assessed by global investors and lenders.
